U.S. drillers add most oil rigs since May: Baker Hughes

U.S. energy companies this week added the most oil rigs since May as drillers follow through on plans to spend more on exploration and production in anticipation of higher crude prices in 2018 than recent years. A drilling rig is seen in the Austin Chalk about two hours outside of Houston, Texas, U.S., May 10, 2018. REUTERS/Ernest Scheyder Drillers added 10 oil rigs in the week to Aug. 10, bringing the total count to 869, the highest level since March 2015, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday. That rig count increase occurred despite U.S. crude prices being on track to fall for a sixth week in a row for the first time since August 2015 on worries trade tensions between the United States and China could hurt oil demand. The U.S. rig count, an early […]